Concern for the future of Irish grocery business over bid to take over supermarket group.
Grocers and wholesalers are concerned over the possible acquisition of the Five Star supermarket chain by the Quinnsworth group. The Five Star group has 27 outlets with eight of them in Dublin.
The Quinnsworth deal comes days after the British-based Tesco group takeover of the 3 Guys supermarket chain from Albert Gubay for a reported £10 million.
Quinnsworth is owned by Associated British Foods which in turn is owned by the multinational Weston Group. The Irish grocery trade is alarmed this latest incursion in the supermarket industry is,
Threatening foreign control of the food distribution industry here.
As a result, the Superquinn chain has announced it will be making a rival bid for Five Star. Wholesalers and retailers are urging the government to act under the Monopolies Commission to prevent outside takeovers.
As the Five Star chain employs between 600 and 800 people, the Unions also have concerns about how a proposed merger or takeover would affect employment. They are seeking meetings with Five Star management to seek compensation and guarantees of permanent employment for the workers.
An RTÉ News report broadcast on 27 March 1979. The reporter is Reg Cullen.
